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The Food Cold Chain Market Size is valued at USD 468.8 Billion in 2023 and is predicted to reach USD 915.36 Billion by the year 2031 at an 8.83 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The growth of e-commerce and online grocery shopping provides opportunities for cold chain logistics providers.
- The growth of supermarkets, hypermarkets, and other retail outlets contributes to the demand for a reliable cold chain.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The shelf life of perishable products is limited, and any disruptions in the cold chain can result in spoilage and waste.
The cold chain is a valuable method for protecting temperature-sensitive commodities during transport by using refrigerated and thermal packaging. The global food and beverage industry commonly uses the cold chain to protect products against thermal deterioration. Due to growing consumer knowledge, diets high in protein replace those high in carbohydrates in developing economies. Due to a shift in the economy that consumers are driving, nations like China are predicted to show a strong growth rate in the upcoming years. The market is projected to rise in developing countries due to increasing technological developments in refrigerated transportation and warehouse management.
Additionally, rising government subsidies have allowed service providers to enter these burgeoning markets with creative transportation-related solutions. Cold chain services are designed for products that need to be transported and stored under optimal temperatures. The growth of retail chains in supermarkets, hypermarkets, and convenience stores is one of the main factors affecting the development of the cold chain business. As a result of the expansion of retail chains, some producers now have their own internal chilled storage facilities. Ample food retail chains are expanding their shops in developed countries like the UK, the US, and Germany, as well as emerging economies like China, Brazil, and Argentina.
Furthermore, the advent of such large merchants and their expanding operations in international trade are creating market expansion potential for chilled warehousing and chilled transportation. Governments in various nations are attempting to reduce food and agricultural waste by setting legislation about food waste and providing support to businesses involved in the food industry, such as the cold chain sector. The e-commerce-based food and beverage delivery industry have seen a considerable increase due to the rising demand for perishable goods and the need for quick delivery.
Competitive Landscape
Some Of The Key Players In The Food Cold Chain Market:
- AGRO Merchants Group,
- Interstate Cold Storage Inc.,
- Americold Logistics LLP,
- Kloosterboer Group B.V.,
- Burris Logistics,
- Lineage Logistics Holding LLC,
- ColdEx Logistics, Nagel-Group SE & Co. KG,
- Emergent Cold LLC,
- Novo Nordisk,
- VersaCold Logistics Services,
- Gruppo Marconi SRL,
- Penske Logistics Inc.,
- Hanson Logistics Inc.,
- Tata Motors,
- Henningsen Cold Storage Co.,
- United States Cold Storage Inc.
Market Segmentation
The Global food cold chain market is segmented into Product Type, Cold Chain Transportation, Cold Chain Storage, Monitoring components, by Packaging Type Products, Material, by Application, meat and marine product segment led the global market exhibiting the highest revenue share in 2021 and will retain the leading position with growing technological developments in the processing, packaging, and storage of seafood are anticipated to stimulate the growth of this segment. Moreover, a rise in fish production is expected to boost segment growth. Other segments are by Equipment’s, Storage Equipment, Transportation Equipment, and by Region, Europe, North America, Latin America, Asia Pacific, Middle East & Africa.
Recent Developments:
- In Sept 2022, Lineage Logistics purchased Grupo Fuentes, a Spanish company that specializes in transportation and cold storage. Lineage's growth in Spain will strengthen its presence in Europe's primary markets for fresh food. This acquisition will enhance Lineage's presence in cold storage distribution throughout Europe.
- In March 2024, ID Fresh Food has announced a strategic collaboration with Tata Motors to convert its entire delivery service to electric cars. By the year 2025, half of iD Fresh Food's delivery fleet will be converted, while the other half will be switched by 2027.
The Food Cold Chain Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 468.8 Billion |
|
Revenue Forecast In 2031 |
USD 915.36 Billion |
|
Growth Rate CAGR |
CAGR of 8.83 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product Type, By Packaging Type, By Application, By Equipments |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
AGRO Merchants Group, Interstate Cold Storage Inc., Americold Logistics LLP, Kloosterboer Group B.V., Burris Logistics, Lineage Logistics Holding LLC, ColdEx Logistics, Nagel-Group SE & Co. KG, Emergent Cold LLC, Novo Nordisk, VersaCold Logistics Services, Gruppo Marconi SRL, Penske Logistics Inc., Hanson Logistics Inc., Tata Motors, Henningsen Cold Storage Co., United States Cold Storage Inc. and others. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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